Will Boardwalk Pipeline (BWP) Stock Be Helped by Q2 Beat?

NEW YORK (TheStreet) -- Boardwalk Pipeline Partners (BWP) reported better-than-expected earnings and revenue for the 2016 second quarter before Monday's market open.

The Houston-based midstream master limited partnership posted earnings of 26 cents per share, topping analysts' estimates of 20 cents per share. 

Revenue for the period was $306.3 million, above Wall Street's forecasts of $299.4 million.

The company provides transportation, storage, gathering and processing of natural gas and liquids for its customers.

Shares of Boardwalk Pipeline are dropping 3.05% to $16.20 on heavy trading volume late Monday afternoon. About 1.4 million of the company's shares were traded so far today compared to its average volume of 761,359 shares per day.

Natural gas prices are down 3.72% to 2.769 per million British thermal units this afternoon. Crude oil (WTI) is falling 3.94% to $39.96 per barrel and Brent crude is retreating 3.24% to $42.12 per barrel.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and compelling growth in net income.

But the team also finds weaknesses including generally higher debt management risk and weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: BWP

More from Markets

Russia Risk: What You Need to Know About the New 'Reset'

Russia Risk: What You Need to Know About the New 'Reset'

Stocks Show Signs of Life During Fed Chair Powell's Testimony on Capitol Hill

Stocks Show Signs of Life During Fed Chair Powell's Testimony on Capitol Hill

UnitedHealth CEO: We See More Tailwinds Than Headwinds

UnitedHealth CEO: We See More Tailwinds Than Headwinds

Jim Cramer: Bank of America Expects 4% Economic Growth in Q2

Jim Cramer: Bank of America Expects 4% Economic Growth in Q2

Jim Cramer Reacts to Lloyd Blankfein's Retirement at Goldman Sachs

Jim Cramer Reacts to Lloyd Blankfein's Retirement at Goldman Sachs